Prime Dividend Corp.: Regular Monthly Dividend Declaration for Class A and Preferred Share

TORONTO, ONTARIO -- (Marketwire) -- 08/19/09 -- Prime Dividend Corp. ("Prime Dividend") declares its regular monthly distribution of $0.06250 (5.00% annualized) for each Class A share which reflects the distribution policy of prime rate in Canada (2.25% as at August 14, 2009) plus 2% annually. Prime Dividend also declares its regular monthly distribution of $0.04167 (5.00% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. An annual Class A and Preferred share payment of 5.00% is the minimum payment as per the prospectus and the rate will not decline below this level. Distributions are payable September 10, 2009 to shareholders on record as of August 31, 2009.

Since inception Class A shareholders have received a total of $3.67 per share and Preferred shareholders have received a total of $2.31 per share inclusive of this distribution, for a combined total of $5.98 per share.

Prime Dividend invests in a portfolio of high yielding Canadian Companies as
follows:

                           Investment                     Life     Utilities
Banks                      Management                Insurance       & Other

Bank of Montreal  AGF Management Ltd.   Great-West Lifeco Inc.      BCE Inc.

The Bank of              CI Financial                 Manulife     TransAlta
 Nova Scotia              Income Fund          Financial Corp.          Corp

CIBC               IGM Financial Inc.  Sun Life Financial Inc.   TransCanada
                                                                        Corp

National Bank                                                          Power
 of Canada                                                         Financial
                                                                       Corp.

Royal Bank                                                         TSX Group
 of Canada                                                              Inc.

Toronto-Dominion
 Bank

Shares held within the Portfolio will generally represent no less than 4%
and no more than 8% of the net asset value.

     Distribution Details:

     Class A Share (PDV)                $0.06250

     Preferred Share (PDV.PR.A)         $0.04167

     Ex-Dividend Date:                  August 27, 2009

     Record Date:                       August 31, 2009

     Payable Date:                      September 10, 2009